Texas sales taxes plunge 13.2%, worst since Great Recession

Texas sales taxes plunge 13.2%, worst since Great Recession
Texas sales taxes plunge 13.2%, worst since Great Recession
With the Texas economy reeling from a crash in oil prices and business shutdowns related to COVID-19, the state’s share of sales taxes collected in May plunged 13.2%, the sharpest decline in a decade.It was the second consecutive month of swiftly falling sales tax revenue, which supplies a major portion of the state budget.The declines in April and May, not seen in Texas since the lingering effects of the Great Recession in January 2010, portend government […]
Source: Statesman